With technology and data at the core of every business, a CIO and CMO convergence is not just optimal but necessary.
FREMONT, CA: Earlier, marketing and IT teams had their respective set of goals and responsibilities. For instance, marketing teams focused on designing creative brand campaigns while IT teams were concerned about keeping the network up and running. However, digital transformation has led the two teams to cross paths in more than one ways. With technology and data at the core of every business, a CIO and CMO convergence is not just optimal but necessary.
As per studies, the volume of data generated in the marketplace has a growth rate of 40 percent each year. Without the assistance of a highly-skilled technologist, the data will turn into a complex pile of raw assets that will be even more difficult to recover with the passage of time. On the other hand, an organized collection of data sets will assist a company in improving customer satisfaction and in the growth of the company.
The convergence of CIO and CMO requires leveraging both infrastructure and analytics supporting the data projects. It’s precisely the point where a marketing campaign can either lead to the growth of a company or ground it. Thus, cooperation in this segment is of utmost importance.
There are concerns over which data infrastructure is best for a company. However, it is not the essential aspect requiring attention as there are already tons of articles written on how to organize data best, manage it, update it, slice it, and so on. The right solution for a company can change over time as per the company’s size, marketing efforts, audience, and other factors. The primary thing to remember is that there must be an interchange of the analytics process for the data efforts, which includes machine learning (ML) and artificial intelligence (AI) to succeed. Here are the aspects that will be impacted by the cross-pollination of the relevant data sets:
• A Different Mindset: Both CMO and CIO should think of data as a profit generator. It might be a different approach for the CIO conventionally as they might just be focused on supplying the data and the tech. However, there is more required from them as of now. Tech is more than an overhead now. It is an investment that requires paying off for a company to allow it to compete in the current market. It’s so important that more than half of IT leaders tend to share budget ownership for their company’s marketing efforts. CMO CIO convergence will require both the departments to play an equal role in the growth of the company.
• Shared Vision: An on-off collaboration between IT and marketing will not suffice in the era of digital supremacy. The CMO CIO convergence is not a project-based consignment either. It’s an all-time thing where the two teams need to work for a common goal, with a shared understanding. They need to walk alongside each other through every app being developed, every product developed, and every new idea which is presented. Until the CIO aligns itself with the vision of CMO, the infrastructure cannot match that vision.
• Creative Process: Apart from a shared vision, CMO and CIO can also engage in brainstorming things such as new customer apps or even the creation of digital assistants to keep visitors happy and informed. Without CMO CIO convergence, the discussion can be creative too, but the required infrastructure may not be actualized. The CIO is like the missing piece to the puzzle, which can ensure that the digital support structure exists to turn marketing’s ideas into a reality.
• Common Language: At present, CMOs are mixed-bag which means that most of them are not digital natives. They don’t possess the vocabulary needed to explain their requirement from a tech viewpoint. CIO can step up here and bridge the communication gap, which will also help in understanding limits and possibilities.